Orchid Market Size, Share, Trends, Analysis, Growth 2032

Orchid Industry Prospective:

The global orchid market size was worth around USD 751.9 million in 2023 and is predicted to grow to around USD 1176.62 million by 2032 with a compound annual growth rate (CAGR) of roughly 5.1% between 2024 and 2032.  

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Orchid Market: Overview

Orchids are members of the Orchidaceae family, which is an extensive collection of flowering plants known for their colorful and fragrant flowers. Orchids are global plants that can be found in practically every ecosystem on Earth, except glaciers. The tropics have the most diverse orchid genera and species in the world. The orchids market is driven by several factors including the growing popularity of interior décor, gifting culture trends, growing e-commerce platforms and others.

Key Insights

• As per the analysis shared by our research analyst, the global orchid market is estimated to grow annually at a CAGR of around 5.1% over the forecast period (2024-2032).
• In terms of revenue, the global orchid market size was valued at around USD 751.9 million in 2023 and is projected to reach USD 1176.62 million, by 2032.
• The growing utilization of orchids in medicine is expected to drive the market growth.
• Based on the product type, the phalaenopsis orchid segment is expected to dominate the market during the forecast period.
• Based on the application, the cosmetic segment is expected to hold the largest market share during the forecast period.
• Based on region, North America is expected to dominate the market over the projected period.

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Orchid Market: Growth Drivers

Growing usage of the plants on occasion to propel the market growth

The growing tradition of sending flowers as gifts for various occasions such as Christmas, birthdays, and weddings is likely to drive the orchid market over the forecast period. Giving flowers as a present for special occasions is growing more common in emerging markets such as India, China, and others. To match customer demand and enhance sales, product innovation has emerged as an important strategy. Seasonal decorations, such as decorative wall art and house accents for holidays such as Christmas and Halloween, have increased demand for the flower.

Orchid Market: Restraints

Price and environmental concerns impeding the market growth

High-quality and uncommon orchid types can be rather costly, restricting their availability to a larger market base. Price sensitivity can influence demand, especially in increasingly price-conscious countries. Furthermore, the collecting of wild orchids for commerce and cultivation can exacerbate environmental issues such as habitat damage and natural population reduction. Conservation activities are critical to addressing these concerns.

Orchid Market: Opportunities

The usage of orchids in medicine provides an attractive opportunity for market expansion

The usage of orchids in medicine is expected to offer a lucrative opportunity for market growth during the forecast period. According to the study by the National Institute of Health, it was discovered that 36 orchid species in Sikkim were often utilized for food and medicinal. Among the 36 species, nine have wound healing characteristics, eight are used in inflammatory disorders, six for cough and cold, five for tonic and aphrodisiac, and eight for other purposes such as constipation, gastritis, bleeding, tonsillitis, and piles.

Orchid Market: Challenges

Lighting issues pose a major challenge to market expansion

Orchids are recognized for their unique lighting requirements which are one of the most prevalent concerns that orchid gardeners experience. Orchid growth and development are heavily dependent on lighting. Insufficient or excessive light can cause a variety of issues, including poor development, a lack of blooms, and even the death of the orchid. Thus, the lighting issues are projected to be a major challenge for the orchid market growth.

Orchid Market: Segmentation

The global orchid industry is segmented based on product type, application and region.

Based on the product type, the global orchid market is bifurcated into cattleya orchid, phalaenopsis orchid, paphiopedilum orchid, vanda orchid, miltonia orchid and others. The phalaenopsis orchid segment is expected to dominate the market during the forecast period. Phalaenopsis is the second most valuable and popular flowering potted plant and cut flower in the world. It is because of their cultural significance, year-round availability, extended vase life, and variety in bloom color, size, and form, as well as delicacy. On the other hand, the cattleya orchid segment is expected to grow at a rapid rate during the forecast period. The key cause for its proliferation is its usage as beautiful decorations. Because of its numerous beauty benefits, it is also utilized in cosmetic applications to minimize the appearance of fine lines and wrinkles, as well as an antioxidant and humectant that hydrates, soothes, and conditions the skin, hence increasing demand for cattleya orchids.

Based on application, the global orchid industry is categorized into cosmetic, garden and herbal medicine. The cosmetic segment is expected to hold the largest market share during the forecast period. The cosmetic application is expanding in the market as many varieties of orchid flowers are employed in cosmetics products, such as Cymbidium flowers in perfume, skin creams, and anti-ageing cosmetics. Furthermore, orchids are currently largely used to moisturize, combat free radicals, boost skin immunity, and reduce the appearance of fine wrinkles. These benefits have boosted the orchid industry. Besides, the herbal medicine application is expected to grow at the highest CAGR during the forecast period. The chemicals found in orchid blooms aid in preventing numerous neurological illnesses. Furthermore, the orchid root includes essential oils, starches, sugars, resins, and other ingredients that can help treat a variety of ailments, including brain function disorders. Orchids have therapeutic benefits in all of their components, including roots, stems, and blooms. Thus, the increasing usage of orchids in herbal treatments promotes market growth.

Orchid Market: Report Scope

Regional Analysis

North America is expected to dominate the market over the projected period

North America is expected to dominate the market over the projected period. Orchid demand is expanding in the North American area as consumers in the United States consume more herbal beauty goods, notably skin and hair care products, due to their 'vegan', 'natural', 'organic', 'botanical', and 'free-from' labels. In addition, the luxury beauty and personal care category has grown significantly year after year. Furthermore, orchids have various levels of rarity and protection throughout the United States, and regulations to protect them vary by state. Some orchid species are federally classified under the Endangered Species Act.

Furthermore, the whole orchid family, including all orchids indigenous to the United States and its territories, is protected under the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES). These restrictions serve to prevent the unlawful sale of orchids. Thus, the growing cosmetic business, as well as legislation aimed at conserving endangered species of flora and wildlife, are driving orchid development in this region.

Orchid Market: Competitive Analysis

The global orchid market is dominated by players like:

• Kawamoto Orchid Nursery
• Burnham Nurseries Ltd
• Sun Bulb Company Inc.
• Al's Orchid Greenhouse
• Orchids by Hausermann
• Odom's Orchids
• Waldor Orchids
• Cal-Orchid Inc.
• Gubler Orchids
• Ter Laak Orchids
• Allura Biotech
• Kokusai Nursery Co. Ltd.
• Hung-Tien Enterprise
• Natural Orchid Co. Ltd.
• Grand Siam Orchid Co.Ltd.
• Sun Bulb Company Inc. Blueorchid Co.Ltd.

The global orchid market is segmented as follows:

By Product Type

• Cattleya Orchid
• Phalaenopsis Orchid
• Paphiopedilum Orchid
• Vanda Orchid
• Miltonia Orchid
• Others

By Application

• Cosmetic
• Garden
• Herbal Medicine

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa